Adani Total Gas, Adani Power Lead Group Stocks Rally Outperforming Benchmarks

The Adani Group stocks led the rally in Monday's trading session as the stock market traded in the green for the second consecutive session. The NSE Nifty 50 rose by 0.41% to 24,446.75, and the BSE Sensex climbed 0.30% to 80,742.64.

Leading the charge among the top gainers in the group was Adani Total Gas Ltd., which soared nearly 13% to reach Rs 675.60, and Adani Power Ltd., which followed closely with a 9% increase to Rs 574.30.

Adani Green Energy Ltd. also saw a significant rise, climbing 9.26% to Rs 989.10. Adani Enterprises was up 7.73% to Rs 2,471.50, while Adani Ports and Special Economic Zone Ltd. recorded a 7.60% increase, reaching Rs 1,363.40.

New Delhi Television Ltd. and Adani Energy Solutions Ltd. also posted gains of 6.04% and 6.03%, respectively.

Adani stocks also led the rally among the benchmark NSE Nifty 50 companies. Adani Enterprises and Adani Ports heavily overperformed the benchmark, which was trading at a 0.38% advance as of 12:22 p.m.

Shares of Adani Ports had earlier on Monday hit a nearly six-month high after the company reported a strong performance for April, with cargo volume increasing 4% year on year to 37.5 million metric tonnes.

Prime Minister Narendra Modi had recently inaugurated the company's Vizhinjam International Seaport in Kerala. Adani Ports is targeting a throughput of 5 million twenty-foot equivalent units, Managing Director Karan Adani said.

“This port will be a game changer for India’s maritime economy,” Modi said at the event in Thiruvananthapuram.